Dollar Tree Inc (DLTR)

Dollar Tree shares climb after earnings beat and upgraded profit outlook (DLTR)May 28, 2026 8:43 AM
IH Market News Dollar Tree Inc. (NASDAQ:DLTR) shares jumped 11.2% in premarket trading after the discount retailer reported stronger-than-expected first-quarter earnings and increased its full-year profit forecast, as investors welcomed continued margin improvement and resilient consumer demand. The company posted adjusted earnings per share of $1.74, exceeding analyst expectations of $1.55 by $0.19. Revenue totaled $4.97 billion, in line with Wall Street estimates and up 7.2% from the same period last year. Comparable store net sales increased 3.5% during the quarter, supported by a 4.5% rise in average ticket size, though customer traffic declined 1.0%. Dollar Tree lifted its fiscal 2026 adjusted EPS guidance to a range of $6.70 to $7.10. The midpoint of $6.90 came in ahead of analyst forecasts of $6.67. The retailer maintained its full-year revenue outlook between $20.5 billion and $20.7 billion. The midpoint of $20.6 billion was slightly below the consensus estimate of $20.64 billion. For the second quarter, Dollar Tree projected adjusted EPS between $1.00 and $1.15, with the midpoint of $1.08 above analyst expectations of $0.99. “Our first quarter results reflect continued progress across the business and demonstrate the strength of Dollar Tree’s position as the preferred destination for value, convenience, and discovery,” said Mike Creedon, Chief Executive Officer. Operating income margin expanded by 120 basis points compared with the first quarter of fiscal 2025, reaching $473.3 million. The company said margin improvement was mainly driven by stronger merchandise mark-on, reduced freight expenses, and lower shrink levels. Those gains were partially offset by increased tariff-related costs and higher markdown activity. Adjusted operating income rose 22% year-over-year during the quarter. Dollar Tree stock price Original: Dollar Tree shares climb after earnings beat and upgraded profit outlook (DLTR)

Dollar Tree, Inc. Reports First Quarter ResultsMay 28, 2026 6:30 AM
Business Wire Net sales grew 7.2% and comparable store net sales increased 3.5% Diluted EPS from continuing operations of $1.76 Adjusted diluted EPS increased 38% to $1.74 Operating income margin expanded 120 basis points versus Q1 of FY25 Adjusted operating income margin expanded 110 basis points versus Q1 of FY25 Returned $595 million to shareholders through share repurchases in Q1 Q2 quarter-to-date share repurchases totaled $98 million Increasing fiscal 2026 adjusted EPS from continuing operations outlook to $6.70 to $7.10 Q2 fiscal 2026 outlook of 2.5% to 3.5% comparable store net sales growth and adjusted EPS from continuing operations of $1.00 to $1.15 Dollar Tree, Inc. (NASDAQ: DLTR) today reported financial results for its first quarter ended May 2, 2026. “Our first quarter results reflect continued progress across the business and demonstrate the strength of Dollar Tree’s position as the preferred destination for value, convenience, and discovery,” said Mike Creedon, Chief Executive Officer. “We continued advancing our strategic plan – a more relevant assortment, agile cost management, a stronger customer connection, and new store growth coupled with improved store conditions – all driving operating margin expansion and delivering a strong bottom-line performance. As we celebrate our 40th anniversary in 2026, we are encouraged by the progress we are seeing across the business and remain focused on making thoughtful investments in our stores, assortment and customer experience – building Dollar Tree to last for decades to come.” Additional Business Highlights Opened 113 new Dollar Tree stores during the quarter Converted or added about 630 stores to the Dollar Tree multi-price format, ending the quarter with approximately 5,900 multi-price stores Generated $644 million of net cash provided by operating activities from continuing operations and $392 million of free cash flow Ended the quarter with 9,382 stores across the Dollar Tree U.S. and Dollar Tree Canada banners First Quarter 2026 Key Operating Results (unaudited) (from continuing operations unless otherwise noted)   (Compared to same period fiscal 2025) Q1 Fiscal 2026     Change         Net Sales $5.0B   7.2% Same-Store Net Sales Growth 3.5%     Operating Income $473M   23.2% Diluted EPS $1.76   19.7% Adjusted Operating Income1 $473M   22.0% Adjusted Diluted EPS1 $1.74   38.1% 1Adjustment for the first quarter of 2026 is a non-operating insurance gain. For the first quarter of 2025, adjustments are for strategic review costs and a non-operating insurance gain. See "Reconciliation of Non-GAAP Financial Measures" below for detailed schedules of this adjustment and the adjustments for the prior year comparable period.   First Quarter Results Results for the first quarter ended May 2, 2026 are reported on a continuing operations basis. Continuing operations reflect the results of Dollar Tree brands in the United States and Canada. Unless otherwise noted, all comparisons are to the prior year’s first quarter ended May 3, 2025 for the results of continuing operations. Net sales increased 7.2% to $5.0 billion. Comparable store net sales increased 3.5%, driven by a 4.5% increase in average ticket, partially offset by a 1.0% decline in traffic. Gross profit margin increased 120 basis points. The improvement in gross margin was primarily driven by higher mark-on, lower freight costs, and lower shrink. These benefits were partially offset by higher tariff costs and higher markdowns. Selling, general and administrative expenses increased 50 basis points to 27.8% of total revenue. The increase was primarily due to higher marketing costs, general liability costs, and higher depreciation partially offset by lower payroll costs. Adjusted selling, general and administrative expenses inclusive of transition services agreement income, net increased 10 basis points as a percent of total revenue. Transition services agreement income, net was $21.1 million for services provided between Dollar Tree and Family Dollar following the sale. Operating income increased 23% to $473.3 million and operating margin expanded 120 basis points. Adjusted operating income increased 22% to $473.3 million. The Company’s effective tax rate was 24.9%. Income from continuing operations was $347.3 million and diluted earnings per share from continuing operations was $1.76. On an adjusted basis, income from continuing operations was $343.4 million and adjusted diluted earnings per share was $1.74. The Company repurchased 5.5 million shares of its common stock during the first quarter of fiscal 2026 for $595 million. As of May 2, 2026, the Company had $1.3 billion remaining under its share repurchase authorization, $1 billion of cash and cash equivalents, no commercial paper outstanding, and no borrowings under its revolving credit facility. Fiscal 2026 Outlook Our full-year fiscal 2026 outlook is presented on a continuing operations basis and excludes the impact of tariff refunds. For fiscal 2026, the Company now expects: Net sales from continuing operations in the range of $20.5 billion to $20.7 billion, based on comparable
store net sales growth in the range of 3% to 4% Approximately 400 new store openings and 75 closings Adjusted diluted earnings per share in the range of $6.70 to $7.10 Second Quarter 2026 Outlook The Company expects net sales from continuing operations for the second quarter will range from $4.8 billion to $4.9 billion, based on comparable store net sales growth in the range of 2.5% to 3.5%. Adjusted diluted EPS for the second quarter 2026 is estimated to be in the range of $1.00 to $1.15. Conference Call Information On May 28, 2026, the Company will host a conference call to discuss its earnings results at 8:00 a.m. Eastern Time. The telephone number for the call is (877) 407-3943 or (201) 689-8855. A recorded version of the call will be available for seven days after the call and may be accessed by dialing (877) 660-6853 or (201) 612-7415. The access code is 13760394. A webcast of the call is also accessible through the Investor Relations portion of the Company’s website. Supplemental financial information for the fourth quarter is available on the Investor Relations portion of the Company’s website, at https://corporate.dollartree.com/investors. Dollar Tree, Inc., headquartered in Chesapeake, VA, is one of North America’s largest and most loved value retailers, known for delivering great value, convenience, and a “thrill-of-the-hunt” discovery shopping experience. With a team of approximately 150,000 associates, Dollar Tree operates more than 9,300 stores and 19 distribution centers across 48 contiguous states and seven Canadian provinces under the brands Dollar Tree and Dollar Tree Canada. The Company is committed to being a responsible steward of its business – supporting its people, serving its communities, and creating lasting value. To learn more about the Company, visit www.DollarTree.com. Use of Non-GAAP Financial Measures The Company reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). From time to time, the Company supplements the reporting of its financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP financial measures we have disclosed include adjusted corporate selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net; adjusted corporate selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net as a percentage of total revenue; adjusted selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net; adjusted selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net as a percentage of total revenue; adjusted selling, general and administrative expenses, exclusive of corporate selling, general and administrative expenses; adjusted selling, general and administrative expenses, exclusive of corporate selling, general and administrative expenses as a percentage of total revenue; adjusted operating income; adjusted operating income margin; adjusted income from continuing operations; adjusted income from continuing operations as a percentage of total revenue; adjusted diluted earnings per share - continuing operations; and adjusted effective tax rate, in each case with respect to our continuing operations; and free cash flow. Reconciliations of the non-GAAP financial measures to the corresponding amounts prepared in accordance with GAAP appears in the tables under the heading “Reconciliation of Non-GAAP Financial Measures” below. These tables provide additional information regarding the adjusted measures. A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our press release contains "forward-looking statements" as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments or results and do not relate strictly to historical facts. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, statements preceded by, followed by or including words such as: “believe”, “anticipate”, “expect”, “intend”, “plan”, “view”, “target” or “estimate”, “may”, “will”, “should”, “predict”, “possible”, “potential”, “continue”, “strategy”, and similar expressions. For example, our forward-looking statements include statements relating to our business and financial outlook for fiscal 2026, including without limitation our expectations regarding net sales, comparable store sales and adjusted diluted earnings per share for the second fiscal quarter and full fiscal year 2026, new store openings and closings for 2026 and various factors that are expected to impact our quarterly and annual results of operations for fiscal 2026; the direct and indirect impacts of current and potential tariffs and other trade-related measures and our plans to mitigate those impacts; our plans and expectations regarding our business, including the impact of various initiatives, investments, and strategies on the company’s performance and prospects for long-term growth; and our other plans, objectives, expectations (financial and otherwise) and intentions. These statements are subject to risks and uncertainties. For a discussion of the risks, uncertainties and assumptions that could affect our future events, developments or results, you should carefully review the "Risk Factors," "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in our Annual Report on Form 10-K filed March 16, 2026, our Form 10-Q for the most recently ended fiscal quarter and other filings we make from time to time with the Securities and Exchange Commission. We are not obligated to release publicly any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this report and you should not expect us to do so.  DLTR-E DOLLAR TREE, INC. Condensed Consolidated Income Statements (In millions, except per share data) (Unaudited)               13 Weeks Ended     May 2, 2026   May 3, 2025 Revenues         Net sales   $ 4,970.5     $ 4,636.5   Other revenue     5.3       3.2   Total revenue     4,975.8       4,639.7   Expenses and other operating items         Cost of sales     3,141.0       2,987.0   Selling, general and administrative expenses     1,382.6       1,268.6   Transition services agreement income, net     21.1       —   Operating income     473.3       384.1   Interest expense, net     16.3       22.7   Other income, net     5.4       61.7   Income from continuing operations before income taxes     462.4       423.1   Provision for income taxes     115.1       109.6   Income from continuing operations     347.3       313.5   Income from discontinued operations, net of tax     —       29.9   Net income   $ 347.3     $ 343.4   Net earnings per share:         Basic from continuing operations   $ 1.76     $ 1.47   Basic from discontinued operations     —       0.14   Basic per share of common stock   $ 1.76     $ 1.61   Basic weighted average number of shares     196.8       213.6             Diluted from continuing operations   $ 1.76     $ 1.47   Diluted from discontinued operations     —       0.14   Diluted per share of common stock   $ 1.76     $ 1.61   Diluted weighted average number of shares     197.4       213.9             Selling, general and administrative expense rate     27.8 %     27.3 % Transition services agreement income, net as a percentage of total revenue     0.4 %     — % Operating income margin     9.5 %     8.3 % Income from continuing operations before income taxes as percentage of total revenue     9.3 %     9.1 % Effective tax rate     24.9 %     25.9 % Income from continuing operations as percentage of total revenue     7.0 %     6.8 %           The selling, general and administrative expense rate and operating income margin are calculated by dividing the applicable amount by total revenue. Amounts in tables above may not recalculate due to rounding. DOLLAR TREE, INC. Condensed Consolidated Balance Sheets (In millions) (Unaudited)                   May 2, 2026   January 31, 2026   May 3, 2025 ASSETS             Current Assets:             Cash and cash equivalents   $ 1,007.3   $ 717.8   $ 1,007.4 Merchandise inventories     2,470.8     2,495.4     2,704.0 Other current assets     220.3     233.0     179.8 Current assets of discontinued operations     —     —     4,705.5 Total current assets     3,698.4     3,446.2     8,596.7 Restricted cash     43.4     42.9     76.7 Property, plant and equipment, net     5,028.1     4,959.6     4,587.9 Operating lease right-of-use assets     4,478.2     4,435.1     4,205.6 Goodwill     423.0     423.2     422.6 Deferred income taxes, net     1.7     1.0     268.7 Other assets     151.0     158.2     133.0 Total assets   $ 13,823.8   $ 13,466.2   $ 18,291.2 LIABILITIES AND SHAREHOLDERS' EQUITY             Current liabilities:             Current portion of long-term debt   $ —   $ —   $ 1,000.0 Current portion of operating lease liabilities     1,005.2     1,000.2     971.3 Accounts payable     1,563.8     1,530.7     1,572.0 Income taxes payable     —     —     239.9 Other current liabilities     615.4     697.7     549.9 Current liabilities of discontinued operations     —     —     3,903.7 Total current liabilities     3,184.4     3,228.6     8,236.8 Long-term debt, net, excluding current portion     2,932.6     2,431.7     2,428.8 Operating lease liabilities, long-term     3,655.5     3,623.7     3,507.3 Deferred income taxes, net     264.3     153.3     — Income taxes payable, long-term     27.5     29.7     27.3 Other liabilities     252.5     244.3     186.2 Total liabilities     10,316.8     9,711.3     14,386.4 Shareholders' equity     3,507.0     3,754.9     3,904.8 Total liabilities and shareholders' equity   $ 13,823.8   $ 13,466.2   $ 18,291.2       The January 31, 2026 information was derived from the audited consolidated financial statements as of that date. DOLLAR TREE, INC. Condensed Consolidated Statements of Cash Flows (In millions) (Unaudited)               13 Weeks Ended     May 2, 2026   May 3, 2025 Cash flows from operating activities:         Net income   $ 347.3     $ 343.4   Income from discontinued operations, net of tax     —       29.9   Income from continuing operations   $ 347.3     $ 313.5   Adjustments to reconcile income from continuing operations to net cash provided by operating activities:         Depreciation and amortization     177.0       151.1   Provision for deferred income taxes     110.4       14.1   Stock-based compensation expense     21.1       17.2   Impairments     0.4       0.1   Gain on insurance proceeds related to fixed assets     —       (41.0 ) Other non-cash adjustments to income from continuing operations     12.4       3.1   Changes in operating assets and liabilities:         Merchandise inventories     24.1       (27.6 ) Income taxes receivable     5.5       —   Other current assets     7.2       (18.6 ) Other assets     (2.5 )     0.7   Accounts payable     33.4       (135.9 ) Income taxes payable     —       92.5   Other current liabilities     (91.9 )     (13.0 ) Other liabilities     5.9       2.6   Operating lease right-of-use assets and liabilities, net     (6.3 )     19.7   Net cash provided by operating activities of continuing operations     644.0       378.5   Cash flows from investing activities:         Capital expenditures     (252.5 )     (248.8 ) Proceeds from insurance recoveries     —       50.0   Payments for fixed asset disposition     (0.4 )     (0.1 ) Net cash used in investing activities of continuing operations     (252.9 )     (198.9 ) Cash flows from financing activities:         Proceeds from long-term debt     500.0       —   Debt-issuance costs     —       (3.8 ) Proceeds from stock issued pursuant to stock-based compensation plans     2.4       2.8   Cash paid for taxes on exercises/vesting of stock-based compensation     (17.5 )     (10.7 ) Payments for repurchase of stock     (585.8 )     (427.7 ) Net cash used in financing activities     (100.9 )     (439.4 ) Cash flows from discontinued operations:         Net cash provided by operating activities of discontinued operations     —       104.5   Net cash used in investing activities of discontinued operations     —       (45.4 ) Net cash provided by discontinued operations     —       59.1   Effect of exchange rate changes on cash, cash equivalents and restricted cash     (0.2 )     0.7   Net change in cash, cash equivalents and restricted cash     290.0       (200.0 ) Cash, cash equivalents and restricted cash at beginning of period     760.7       1,511.2   Cash, cash equivalents and restricted cash at end of period   $ 1,050.7     $ 1,311.2   DOLLAR TREE, INC. Store Activity and Selected Sales Data (Unaudited)                   13 Weeks Ended       May 2, 2026   May 3, 2025 Store Count:         Beginning     9,282       8,881   New stores     113       148   Stores converted from Family Dollar (a)     —       5   Closings     (13 )     (18 ) Ending     9,382       9,016   Selling Square Footage (in millions)     83.5       79.6   Growth Rate (Square Footage)     4.9 %     7.4 %                   52 Weeks Ended       May 2, 2026   May 3, 2025 Sales per Square Foot (b)   $ 242     $ 235               (a) Stores converted from a Family Dollar store to a Dollar Tree store are reflected in the table above when they re-opened as a Dollar Tree store. (b) Sales per square foot is calculated based on total net sales for the reporting period divided by the average selling square footage during the period. DOLLAR TREE, INC. Reconciliation of Non-GAAP Financial Measures (In millions, except per share data) (Unaudited)     From time-to-time, the Company discloses certain financial measures not derived in accordance with GAAP. These non-GAAP financial measures should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purposes of analyzing operating performance, financial position, liquidity, or cash flows. The non-GAAP financial measures we have disclosed include adjusted corporate selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net; adjusted corporate selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net as a percentage of total revenue; adjusted selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net; adjusted selling, general and administrative expenses, exclusive and inclusive of transition services agreement income, net as a percentage of total revenue; adjusted selling, general and administrative expenses, exclusive of corporate selling, general and administrative expenses; adjusted selling, general and administrative expenses, exclusive of corporate selling, general and administrative expenses as a percentage of total revenue; adjusted operating income; adjusted operating income margin; adjusted income from continuing operations; adjusted income from continuing operations as a percentage of total revenue; adjusted diluted earnings per share - continuing operations; and adjusted effective tax rate, in each case with respect to our continuing operations. The Company believes providing additional information in these non-GAAP measures that exclude the unusual expenses and income described below is beneficial to the users of its financial statements in evaluating the Company's current operating results in relation to past periods. In addition, the Company's debt covenants exclude the impact of certain unusual expenses. The Company has included a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures in the following tables. 1.) During the first quarter of fiscal 2025, the Company entered into a definitive agreement to sell the Family Dollar business, and completed the sale on July 5, 2025. We incurred consulting, legal and other expenses related to the sale and separation activities, including costs associated with optimizing the remaining Dollar Tree business post-divestiture. Costs associated with these activities incurred in the first quarter of fiscal 2025 totaled $3.7 million. 2.) During the first quarter of fiscal 2024, a tornado destroyed our Dollar Tree distribution center in Marietta, Oklahoma ("DC 8"). As a result of the destruction, we have incurred losses totaling $129.0 million, consisting of $70.0 million related to damaged inventory and $59.0 million related to property and equipment. These losses are fully insured and therefore not contemplated in the non-GAAP adjustments below. Since the end of the first quarter of fiscal 2024, we have received insurance proceeds totaling $125.0 million related to damaged inventory, and $100.0 million related to damaged property, including $70.0 million in the first quarter of fiscal 2025 and $5.2 million in the first quarter of fiscal 2026. In the fourth quarter of fiscal 2024, we recorded a gain of $29.7 million for insurance proceeds received. We recorded additional gains in the first quarters of fiscal 2025 and fiscal 2026 totaling $61.8 million and $5.2 million, respectively, for insurance proceeds received. In addition, the Company discloses free cash flow, a non-GAAP financial measure that we calculate as net cash provided by operating activities less capital expenditures. The Company believes free cash flow is an important indicator of our liquidity as it measures the amount of cash we generate from our business operations. Free cash flow may not represent the amount of cash flow available for general discretionary use, because it excludes non-discretionary expenditures, such as mandatory debt repayments and required settlements of recorded and/or contingent liabilities not reflected in cash flow from operations. The Company has included a reconciliation of free cash flow to the most comparable GAAP measures in the following tables. A reconciliation of the projected adjusted diluted EPS, which is a forward-looking non-GAAP financial measure, to the most directly comparable GAAP financial measure, is not provided because the company is unable to provide such reconciliation without unreasonable effort. The inability to provide a reconciliation is due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. GAAP measures may include the impact of such items as litigation reserves; restructuring charges; goodwill and intangible asset impairments; natural disasters; our store portfolio optimization review and strategic review and sale of Family Dollar, and the tax effect of all such items. Historically, the company has excluded these items from non-GAAP financial measures. The company currently expects to continue to exclude these items in future disclosures of non-GAAP financial measures and may also exclude other items that may arise (collectively, “non-GAAP adjustments”). The decisions and events that typically lead to the recognition of non-GAAP adjustments, such as a decision to exit part of the business or reaching settlement of a legal dispute, are inherently unpredictable as to if or when they may occur. For the same reasons, the company is unable to address the probable significance of the unavailable information, which could be material to future results. DOLLAR TREE, INC. Reconciliation of Non-GAAP Financial Measures - Continuing Operations (In millions, except per share data) (Unaudited)               13 Weeks Ended     May 2, 2026   May 3, 2025 Reconciliation of Adjusted Corporate Selling, General and Administrative Expenses, Exclusive of Transition Services Agreement Income, Net         Corporate selling, general and administrative expenses (GAAP)   $ 141.8     $ 141.8   Deduct: Strategic review costs     —       (0.1 ) Adjusted corporate selling, general and administrative expenses, exclusive of transition services agreement income, net (Non-GAAP)   $ 141.8     $ 141.7   Adjusted corporate selling, general and administrative expenses, exclusive of transition services agreement income, net as percentage of total revenue (Non-GAAP)     2.8 %     3.1 %           Reconciliation of Adjusted Corporate Selling, General and Administrative Expenses, Inclusive of Transition Services Agreement Income, Net         Corporate selling, general and administrative expenses (GAAP)   $ 141.8     $ 141.8   Deduct: Strategic review costs     —       (0.1 ) Deduct: Transition services agreement income, net     (21.1 )     —   Adjusted corporate selling, general and administrative expenses, inclusive of transition services agreement income, net (Non-GAAP)   $ 120.7     $ 141.7   Adjusted corporate selling, general and administrative expenses, inclusive of transition services agreement income, net as percentage of total revenue (Non-GAAP)     2.4 %     3.1 %           Reconciliation of Adjusted Selling, General and Administrative Expenses, Exclusive of Transition Services Agreement Income, Net         Selling, general and administrative expenses (GAAP)   $ 1,382.6     $ 1,268.6   Deduct: Strategic review costs     —       (3.7 ) Adjusted selling, general and administrative expenses, exclusive of transition services agreement income, net (Non-GAAP)   $ 1,382.6     $ 1,264.9   Adjusted selling, general and administrative expenses, exclusive of transition services agreement income, net as percentage of total revenue (Non-GAAP)     27.8 %     27.3 %   DOLLAR TREE, INC. Reconciliation of Non-GAAP Financial Measures - Continuing Operations (In millions, except per share data) (Unaudited)               13 Weeks Ended     May 2, 2026   May 3, 2025 Reconciliation of Adjusted Selling, General and Administrative Expenses, Inclusive of Transition Services Agreement Income, Net         Selling, general and administrative expenses (GAAP)   $ 1,382.6     $ 1,268.6   Deduct: Strategic review costs     —       (3.7 ) Deduct: Transition services agreement income, net     (21.1 )     —   Adjusted selling, general and administrative expenses, inclusive of transition services agreement income, net (Non-GAAP)   $ 1,361.5     $ 1,264.9   Adjusted selling, general and administrative expenses, inclusive of transition services agreement income, net as percentage of total revenue (Non-GAAP)     27.4 %     27.3 %           Reconciliation of Adjusted Selling, General and Administrative Expenses, Exclusive of Corporate Selling, General and Administrative Expenses         Selling, general and administrative expenses (GAAP)   $ 1,382.6     $ 1,268.6   Deduct: Strategic review costs     —       (3.6 ) Deduct: Corporate selling, general and administrative expenses     (141.8 )     (141.8 ) Adjusted selling, general and administrative expenses, exclusive of corporate selling, general and administrative expenses (Non-GAAP)   $ 1,240.8     $ 1,123.2   Adjusted selling, general and administrative expenses, exclusive of corporate selling, general and administrative expenses as percentage of total revenue (Non-GAAP)     24.9 %     24.2 %           Reconciliation of Adjusted Operating Income         Operating income (GAAP)   $ 473.3     $ 384.1   Add: Strategic review costs     —       3.7   Adjusted operating income (Non-GAAP)   $ 473.3     $ 387.8   Adjusted operating income margin (Non-GAAP)     9.5 %     8.4 %           Reconciliation of Adjusted Income from Continuing Operations         Income from Continuing Operations (GAAP)   $ 347.3     $ 313.5   SG&A adjustments:         Add: Strategic review costs     —       3.7   Non-operating adjustment:         Deduct: Non-operating insurance gain     (5.2 )     (61.8 ) Provision for income tax adjustments     1.3       14.3   Adjusted income from continuing operations (Non-GAAP)   $ 343.4     $ 269.7   Adjusted income from continuing operations as percentage of total revenue (Non-GAAP)     6.9 %     5.8 %           DOLLAR TREE, INC. Reconciliation of Non-GAAP Financial Measures - Continuing Operations (In millions, except per share data) (Unaudited)               13 Weeks Ended     May 2, 2026   May 3, 2025 Reconciliation of Adjusted Diluted Earnings Per Share - Continuing Operations         Diluted earnings per share - continuing operations (GAAP)   $ 1.76     $ 1.47   SG&A adjustments:         Add: Strategic review costs     —       0.02   Non-operating adjustment:         Deduct: Non-operating insurance gain     (0.03 )     (0.29 ) Provision for income tax adjustments     0.01       0.07   Adjusted diluted earnings per share - continuing operations (Non-GAAP)   $ 1.74     $ 1.26             Reconciliation of Adjusted Effective Tax Rate         Effective tax rate (GAAP)     24.9 %     25.9 % Add/Deduct: Tax impact of non-GAAP adjustments1     — %     0.2 % Adjusted effective tax rate (Non-GAAP)     24.9 %     26.1 %           1Relates to the tax effect of non-GAAP adjustments, which were determined based on the nature of the underlying non-GAAP adjustments and their relevant tax rates. Amounts in tables above may not recalculate due to rounding. DOLLAR TREE, INC. Reconciliation of Non-GAAP Financial Measures (In millions, except per share data) (Unaudited)                 13 Weeks Ended       May 2, 2026   May 3, 2025 Reconciliation of Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow from Continuing Operations         Net cash provided by operating activities of continuing operations (GAAP)   $ 644.0     $ 378.5   Deduct:         Capital expenditures of continuing operations     (252.5 )     (248.8 ) Free cash flow from continuing operations (Non-GAAP)   $ 391.5     $ 129.7               Net cash used in investing activities of continuing operations (GAAP) (c)   $ (252.9 )   $ (198.9 ) Net cash used in financing activities (GAAP)   $ (100.9 )   $ (439.4 )             (c) Net cash used in investing activities includes capital expenditures, which is included in our computation of free cash flow.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260528789333/en/ Dollar Tree, Inc.
Daniel Delrosario
Senior Vice President, Investor Relations and Treasurer
www.DollarTree.com Original: Dollar Tree, Inc. Reports First Quarter Results

Dollar Tree Named Entitlement Sponsor for New England's Only NASCAR Cup Series RaceMay 3, 2026 2:30 PM
PR Newswire (US)

The Dollar Tree 301, the penultimate race of the NASCAR Cup Series regular season, will take place at New Hampshire Motor Speedway (NHMS) on Sunday, Aug. 23.Dollar Tree's partnership extends beyond NHMS, as the company has been named Official Value Retailer of Speedway Motorsports with display activation and promotional rights across 10 speedway properties and 15 NASCAR Cup Series race weekends.One of North America's largest and most-loved value retailers, Dollar Tree operates more than 9,200 stores and 18 distribution centers with more than 150,000 associates across the United States and Canada.LOUDON, N.H., May 3, 2026 /PRNewswire/ -- Speedway Motorsports and Dollar Tree officials announced today the value retailer has been named entitlement sponsor of the NASCAR Cup Series (NCS) race at New Hampshire Motor Speedway (NHMS) and Official Value Retailer of Speedway Motorsports.







The Dollar Tree 301 will take place at 3 p.m. on Sunday, Aug. 23 at NHMS. As the only annual NCS race in New England, the Dollar Tree 301 at "The Magic Mile" will be broadcast worldwide on USA Network, PRN and SiriusXM NASCAR Radio.Download Logos, Graphics, B-Roll & Photos"NASCAR fans are some of the most passionate consumers in sports, and partnering with Speedway Motorsports provides a powerful opportunity to connect with them in a meaningful way," said Mike Creedon, Chief Executive Officer, Dollar Tree. "We see this partnership and our race entitlement at New Hampshire Motor Speedway as an invitation for fans to experience the value, convenience and discovery that only Dollar Tree can offer. Just as the sport thrives on teamwork and dedication to deliver for its fans, our more than 150,000 associates across the country share that same drive to deliver excellence every day for our customers."In addition to adding their name to New England's only NCS race, Dollar Tree has branded the "More Fun. More Value" pages across all track websites in the Speedway Motorsports family as well as a ticket offer that includes a $10 Dollar Tree gift card with a purchase of at least two tickets. Dollar Tree will activate in Speedway Motorsports Fan Zones with feature appearances from NCS drivers Erik Jones and John Hunter Nemechek of LEGACY MOTOR CLUB."We're thrilled to put Dollar Tree's name on our NASCAR Cup Series race," said New Hampshire Motor Speedway Executive Vice President and General Manager David McGrath. "Attending a NASCAR race at New Hampshire Motor Speedway is the best value in pro sports, and our team strives to provide a top-notch experience with convenient options for race fans to make memories without breaking the bank. We can't think of a better partner than Dollar Tree to join us in that mission. We look forward to welcoming veteran race fans to the Dollar Tree 301 as well as those discovering NASCAR for the first time – they're sure to be race fans by the time that checkered flag waves."Through the partnership, Dollar Tree will activate through a series of NHMS assets, including VIP hospitality throughout race weekend for customers, vendors and associates, venue signage and branding, the opportunity to name the Grand Marshal and Honorary Starter for the race and exclusive promotional rights.Dollar Tree has proven to be a true supporter of the sport, also serving as a partner of LEGACY MOTOR CLUB, which is owned by seven-time NCS champion, Hall of Famer and three-time NHMS winner Jimmie Johnson. As a primary partner, Dollar Tree anchors select race weekends with high-impact paint schemes on cars for both Jones and Nemechek, extending its brand from the track to fans nationwide."This partnership reflects the momentum we're building with Dollar Tree," said Johnson. "Dollar Tree stepping into an entitlement role at New Hampshire Motor Speedway with Speedway Motorsports speaks to their belief in the sport and the fans – they are committed. Dollar Tree has been an incredible partner to LEGACY MOTOR CLUB with their full sponsorship of the Nos. 42 and 43 – they want to be in our sport long term, and I'm honored to be in business with them."This summer's Dollar Tree 301 will be the 55th NCS race at the flat 1.058-mile oval and one of three NASCAR races at "The Magic Mile" from Aug. 21-23. A critical stop on the schedule, the Dollar Tree 301 will be one of the final chances for drivers to earn enough points to secure a spot in The Chase. It will be preceded on Doubleheader Saturday by the Team EJP 175 NASCAR CRAFTSMAN Truck Series (NCTS) race (1:30 p.m.) and the Mohegan Sun 100 NASCAR Whelen Modified Tour (NWMT) race (4:30 p.m.).Tickets:
For tickets and camping for New England's only NCS weekend, featuring the Dollar Tree 301 NCS race, Team EJP 175 NCTS race, Mohegan Sun 100 NWMT race and SIG SAUER Academy Dirt Duels, fans should visit NHMS.com or call 833-4LOUDON. Tickets for kids 12 and under are just $10 on Sunday, free on Doubleheader Saturday and start at $10 on Friday.Follow Us:
Keep track of all of New Hampshire Motor Speedway's events by following on Facebook (@NHMotorSpeedway), X ( @&h=1896280641&u=https%3A%2F%2Fwww.instagram.com%2Fnhms%2F&a=Instagram" target="_blank" rel="nofollow">Instagram (@NHMS). Keep up with all the latest information on the speedway website (NHMS.com) and mobile app.About Dollar Tree, Inc.
Dollar Tree, Inc. (NASDAQ: DLTR), headquartered in Chesapeake, Va., is one of North America's largest and most-loved value retailers, known for delivering great value, convenience and a "thrill-of-the-hunt" discovery shopping experience. With a team of approximately 150,000 associates, Dollar Tree operates more than 9,200 stores and 18 distribution centers across 48 contiguous states and seven Canadian provinces under the brands Dollar Tree and Dollar Tree Canada. The company is committed to being a responsible steward of its business – supporting its people, serving its communities and creating lasting value. Additional information about Dollar Tree can be found at www.DollarTree.com.



View original content to download multimedia:https://www.prnewswire.com/news-releases/dollar-tree-named-entitlement-sponsor-for-new-englands-only-nascar-cup-series-race-302760427.htmlSOURCE SMISC Holdings, LLC

Original: Dollar Tree Named Entitlement Sponsor for New England's Only NASCAR Cup Series Race

Dollar Tree shares slip despite Q4 earnings beat as outlook underwhelmsMarch 16, 2026 10:07 AM
IH Market News
Shares of Dollar Tree Inc. (NASDAQ:DLTR) moved lower in premarket trading Monday even after the retailer reported fourth-quarter results that topped Wall Street forecasts, as investors reacted negatively to the company’s guidance for fiscal 2026.The stock was down about 3% before the market open. For the quarter ended January 31, the discount retailer reported adjusted earnings per share of $2.56, exceeding analyst expectations of $2.53 by $0.03. Revenue totaled $5.5 billion, ahead of the $5.46 billion consensus estimate and up 9% from the same period a year earlier.Comparable store net sales increased 5% during the quarter, supported by a 6.3% rise in the average customer transaction, although this was partly offset by a 1.2% drop in store traffic.Despite the stronger-than-expected quarterly results, Dollar Tree’s forecast for fiscal 2026 disappointed investors. The company projected adjusted EPS between $6.50 and $6.90, with a midpoint of $6.70—below the analyst consensus of $6.74. It also expects annual revenue in the range of $20.5 billion to $20.7 billion, with the midpoint of $20.6 billion slightly under the $20.69 billion market forecast.For the first quarter, Dollar Tree anticipates adjusted EPS of $1.45 to $1.60 and comparable store net sales growth of between 3% and 4%.“Our strong results this quarter show that Dollar Tree remains America’s retail destination for value, convenience, and discovery – underscored by our 20th consecutive year of positive same store sales,” said Mike Creedon, Chief Executive Officer.Gross profit margin improved by 150 basis points to 39.1% in the quarter, mainly due to better pricing strategies and reduced freight costs, though these gains were partly offset by higher tariff-related expenses. Operating income rose 30.2% year over year to $695 million.For the full fiscal year 2025, Dollar Tree reported net sales of $19.4 billion, representing a 10.4% increase compared with the previous year, while comparable store sales grew 5.3%.Dollar Tree stock price

Original: Dollar Tree shares slip despite Q4 earnings beat as outlook underwhelms

Dollar Tree, Inc. Reports Fourth Quarter and Full Year 2025 ResultsMarch 16, 2026 6:30 AM
Business Wire

Q4 comparable store net sales growth of 5.0%



Q4 diluted EPS from continuing operations of $2.56



FY25 net sales growth of 10% and comparable store net sales growth of 5.3%



FY25 diluted EPS from continuing operations of $5.94



Q4 adjusted diluted EPS increased 21% to $2.56



FY25 adjusted diluted EPS increased 13% to $5.75



Returned $1.548 billion to shareholders through share repurchases in fiscal 2025



Quarter to date share repurchases are $193 million



Introducing fiscal 2026 outlook of comparable store net sales growth of 3% to 4% and adjusted EPS from continuing operations of $6.50 to $6.90



Q1 fiscal 2026 outlook of 3% to 4% comparable store net sales growth and adjusted EPS from continuing operations of $1.45 to $1.60



Dollar Tree, Inc. (NASDAQ: DLTR) today reported financial results for its fourth quarter ended January 31, 2026.


“Our strong results this quarter show that Dollar Tree remains America’s retail destination for value, convenience, and discovery – underscored by our 20th consecutive year of positive same store sales,” said Mike Creedon, Chief Executive Officer for Dollar Tree. “By delivering great value at low prices, with disciplined execution, we continue to expand our reach and drive long-term growth.”


Additional Business Highlights



Opened 402 new Dollar Tree stores in fiscal 2025



Converted or added about 2,400 stores to the Dollar Tree 3.0 multi-price format, ending the year with approximately 5,300 multi-price stores



For the full year, generated $2.2B of net cash provided by operating activities from continuing operations and $1.1 billion of free cash flow





Fourth Quarter 2025 Key Operating Results (unaudited)




(from continuing operations unless otherwise noted)








 




(Compared to same period fiscal 2024)






 






Q4




Fiscal 2025






 






 




Change








 






 






 






 






 








Net Sales






 






$5.5B






 






9.0%








Same-Store Net Sales Growth – Dollar Tree






 






5.0%






 






 








Operating Income






 






$695M






 






30.2%








Diluted EPS






 






$2.56






 






37.8%








Adjusted Operating Income1






 






$695M






 






10.7%








Adjusted Diluted EPS






 






$2.56






 






21.3%








1






Adjustments for the fourth quarter of 2025 are strategic review costs and change in estimated software termination costs. See “Reconciliation of Non-GAAP Financial Measures” below for detailed schedules of these adjustments.









 











Fourth Quarter Results


Results for the fourth quarter ended January 31, 2026 are reported on a continuing operations basis and reflect the Family Dollar segment as discontinued operations. Continuing operations reflect the results of the Dollar Tree segment and corporate, support and other.


Unless otherwise noted, all comparisons are to the prior year’s fourth quarter, ended February 1, 2025 for the results of continuing operations.


Net sales increased 9.0% to $5.45 billion. Same-store net sales increased 5.0%, driven by a 6.3% increase in average ticket, partially offset by a 1.2% decline in traffic.


Gross profit increased 13.3% and gross profit margin increased 150 basis points to 39.1%. The improvement in gross margin was primarily driven by improved mark-on from pricing initiatives and lower domestic and import freight costs. These benefits were partially offset primarily by higher tariff costs.


Selling, general and administrative expenses decreased 10 basis points to 26.9% of total revenue. The decrease was primarily due to prior-year software impairments and contract termination costs, and lower stock compensation, partially offset by higher store payroll in support of pricing initiatives, higher general liability claims, and higher incentive compensation.


On an adjusted basis, which does not include strategic review costs, software impairments and termination costs, and the prior-year accelerated vesting of certain stock awards, the selling, general and administrative expense rate increased 170 basis points to 26.8% of total revenue.


Operating income increased 30.2%. Adjusted operating income increased 10.7%.


Transition services agreement income, net was $23.1 million for services provided between Dollar Tree and Family Dollar following the sale.


The Company’s effective tax rate was 24.4% compared to 25.9%. The adjusted effective tax rate was 24.3% compared to 24.8%.


Income from continuing operations was $511.7 million and diluted earnings per share from continuing operations was $2.56. On an adjusted basis, income from continuing operations was $512.1 million and adjusted diluted earnings per share was $2.56.


The Company repurchased 2.2 million shares of its common stock during the fourth quarter of fiscal 2025 for $232 million.


As of January 31, 2026, the Company had $1.8 billion remaining under its share repurchase authorization, $717.8 million of cash and cash equivalents, no commercial paper outstanding, and no borrowings under its credit facilities.


Year-to-Date Results


Results for the 52 weeks ended January 31, 2026 are reported on a continuing operations basis and reflect the Family Dollar segment as discontinued operations. Continuing operations reflect the results of our Dollar Tree segment and corporate, support and other.


Unless otherwise noted, all comparisons are to the prior fiscal year ended February 1, 2025 for the results of continuing operations.


Net sales increased 10.4% to $19.4 billion. Dollar Tree’s same-store sales increased 5.3%, driven by a 4.3% increase in average ticket and a 1.0% increase in traffic.


Gross profit margin increased 60 basis points compared to the prior year, primarily driven by improved mark-on from pricing initiatives, and lower domestic and import freight costs. These benefits were partially offset primarily by higher tariff costs, and higher markdowns.


Selling, general and administrative expenses were 28.2% of total revenue, compared to 27.5%.


On an adjusted basis, selling, general and administrative expenses were 28.1% of total revenue, compared to 26.9%.


Operating income increased 13.1% to $1.7 billion and operating income margin increased 20 basis points to 8.5%. Adjusted operating income increased 6.5% to $1.7 billion and adjusted operating income margin decreased 30 basis points to 8.6%.


The Company’s effective tax rate was 24.8% compared to 24.7%. Adjusted effective tax rate was 24.8% compared to 24.2% in the prior year.


Income from continuing operations was $1.2 billion and diluted earnings per share from continuing operations was $5.94. On an adjusted basis, income from continuing operations was $1.2 billion and adjusted diluted earnings per share was $5.75.


The Company repurchased approximately $1.6 billion of shares during fiscal 2025.


Fiscal 2026 Outlook


Our full-year fiscal 2026 outlook is presented on a continuing operations basis and reflects the operations of our Dollar Tree segment, including corporate, support and other.


For fiscal 2026, the Company expects:



Net sales from continuing operations in the range of $20.5 to $20.7 billion, based on comparable store net sales growth in the range of 3 to 4%



Approximately 400 new store openings and 75 closings



Adjusted diluted earnings per share in the range of $6.50 to $6.90



First Quarter 2026 Outlook


The Company expects net sales from continuing operations for the first quarter will range from $4.9 billion to $5.0 billion, based on comparable store net sales growth in the range of 3% to 4%.


Adjusted diluted EPS for the first quarter 2026 is estimated to be in the range of $1.45 to $1.60.


Conference Call Information


On Monday, March 16, 2026, the Company will host a conference call to discuss its earnings results at 8:00 a.m. Eastern Time. The telephone number for the call is (877) 407-3943 or (201) 689-8855. A recorded version of the call will be available for seven days after the call and may be accessed by dialing (877) 660-6853 or (201) 612-7415. The access code is 13758753. A webcast of the call is also accessible through the Investor Relations portion of the Company’s website.


Supplemental financial information for the fourth quarter is available on the Investor Relations portion of the Company’s website, at https://corporate.dollartree.com/investors.


Dollar Tree, Inc., headquartered in Chesapeake, VA, is one of North America’s largest and most loved value retailers, known for delivering great value, convenience, and a “thrill-of-the-hunt” discovery shopping experience. With a team of approximately 150,000 associates, Dollar Tree operates more than 9,200 stores and 18 distribution centers across 48 contiguous states and seven Canadian provinces under the brands Dollar Tree and Dollar Tree Canada. The Company is committed to being a responsible steward of its business – supporting its people, serving its communities, and creating lasting value. To learn more about the Company, visit www.DollarTree.com.


Use of Non-GAAP Financial Measures


The Company reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). From time to time, the Company supplements the reporting of its financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP financial measures we have disclosed include adjusted selling, general and administrative expenses inclusive and exclusive of TSA income; adjusted selling, general and administrative expense rate inclusive and exclusive of TSA income; adjusted operating income (loss); adjusted operating income (loss) margin; adjusted income from continuing operations; adjusted diluted earnings per share; and adjusted effective tax rate, in each case with respect to our continuing operations; and free cash flow.


Reconciliations of the non-GAAP financial measures to the corresponding amounts prepared in accordance with GAAP appears in the tables under the heading “Reconciliation of Non-GAAP Financial Measures” below. These tables provide additional information regarding the adjusted measures.


A WARNING ABOUT FORWARD-LOOKING STATEMENTS: Our press release contains "forward-looking statements" as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments or results and do not relate strictly to historical facts. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, statements preceded by, followed by or including words such as: “believe”, “anticipate”, “expect”, “intend”, “plan”, “view”, “target” or “estimate”, “may”, “will”, “should”, “predict”, “possible”, “potential”, “continue”, “strategy”, and similar expressions. For example, our forward-looking statements include statements relating to our business and financial outlook for fiscal 2026, including without limitation our expectations regarding net sales, comparable store sales and adjusted diluted earnings per share for the first fiscal quarter and full fiscal year 2026, and various factors that are expected to impact our quarterly and annual results of operations for fiscal 2026; the direct and indirect impacts of current and potential tariffs and other trade-related measures and our plans to mitigate those impacts; our plans and expectations regarding our business, including the impact of various initiatives, investments, and strategies on the company’s performance and prospects for long-term growth; and our other plans, objectives, expectations (financial and otherwise) and intentions. These statements are subject to risks and uncertainties. For a discussion of the risks, uncertainties and assumptions that could affect our future events, developments or results, you should carefully review the "Risk Factors," "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in our Annual Report on Form 10-K filed March 16, 2026, our Form 10-Q for the most recently ended fiscal quarter and other filings we make from time to time with the Securities and Exchange Commission. We are not obligated to release publicly any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this report and you should not expect us to do so.


DLTR-E


DOLLAR TREE, INC.

FINANCIAL TABLES


T-1: Condensed Consolidated Income Statements

T-2: Condensed Consolidated Balance Sheets

T-3: Condensed Consolidated Statements of Cash Flows

T-4: Segment Information

T-5: Dollar Tree Segment Information

T-6: Reconciliation of Non-GAAP Financial Measures

T-6a: Reconciliation of Non-GAAP Financial Measures (continued)

T-7: Reconciliation of Non-GAAP Financial Measures – Continuing Operations

T-7a: Reconciliation of Non-GAAP Financial Measures – Continuing Operations (continued)

T-7b: Reconciliation of Non-GAAP Financial Measures – Continuing Operations (continued)

T-8: Reconciliation of Non-GAAP Financial Measures – Free Cash Flow



T-1


DOLLAR TREE, INC.


Condensed Consolidated Statements of Operations


(In millions, except per share data)










 




13 Weeks Ended

52 Weeks Ended




January 31, 2026

February 1, 2025

January 31, 2026

February 1, 2025




(Unaudited)

(Unaudited)

(Unaudited)




Revenues










Net sales


$






5,446.1






 







$






4,996.7






 







$






19,395.7






 







$






17,565.8






 







Other revenue


 






4.6






 







 






3.1






 







 






16.1






 







 






12.7






 







Total revenue


 






5,450.7






 







 






4,999.8






 







 






19,411.8






 







 






17,578.5






 







Expenses & other operating items










Cost of sales


 






3,315.5






 







 






3,116.9






 







 






12,345.0






 







 






11,284.1






 







Selling, general and administrative expenses


 






1,463.6






 







 






1,349.3






 







 






5,468.6






 







 






4,832.4






 







Transition services agreement income, net


 






23.1






 







 






-






 







 






54.9






 







 






-






 







Operating income


 






694.7






 







 






533.6






 







 






1,653.1






 







 






1,462.0






 







Interest expense, net


 






18.1






 







 






22.6






 







 






85.5






 







 






107.5






 







Other (income) expense, net


 






0.1






 







 






(29.3






)







 






(61.9






)







 






(29.1






)







Income from continuing operations before income taxes


 






676.5






 







 






540.3






 







 






1,629.5






 







 






1,383.6






 







Provision for income taxes


 






164.8






 







 






140.1






 







 






404.2






 







 






341.1






 







Income from continuing operations


 






511.7






 







 






400.2






 







 






1,225.3






 







 






1,042.5






 







Income (loss) from discontinued operations, net of tax

 






(5.6






)







 






(4,096.1






)







 






57.2






 







 






(4,072.6






)







Net income (loss)


$






506.1






 







$






(3,695.9






)







$






1,282.5






 







$






(3,030.1






)







Net earnings (loss) per share:










Basic from continuing operations


$






2.57






 







$






1.86






 







$






5.95






 







$






4.83






 







Basic from discontinued operations


 






(0.03






)







 






(19.04






)







 






0.28






 







 






(18.88






)







Basic per share of common stock


$






2.54






 







$






(17.18






)







$






6.23






 







$






(14.05






)







Basic weighted average number of shares


 






199.1






 







 






215.1






 







 






205.8






 







 






215.7






 















 


Diluted from continuing operations


$






2.56






 







$






1.86






 







$






5.94






 







$






4.83






 







Diluted from discontinued operations


 






(0.03






)







 






(19.03






)







 






0.28






 







 






(18.86






)







Diluted per share of common stock


$






2.53






 







$






(17.17






)







$






6.22






 







$






(14.03






)







Diluted weighted average number of shares


 






199.8






 







 






215.3






 







 






206.3






 







 






215.9






 















 


Selling, general and administrative expense rate


 






26.9






%







 






27.0






%







 






28.2






%







 






27.5






%







Transition services agreement income, net as a percentage of total revenue


 






0.4






%







 






0.0






%







 






0.3






%







 






0.0






%







Operating income margin


 






12.7






%







 






10.7






%







 






8.5






%







 






8.3






%







Income from continuing operations before income taxes as percentage of total revenue


 






12.4






%







 






10.8






%







 






8.4






%







 






7.9






%







Effective tax rate


 






24.4






%







 






25.9






%







 






24.8






%







 






24.7






%







Income from continuing operations as percentage of total revenue


 






9.4






%







 






8.0






%







 






6.3






%







 






5.9






%










The information for the year ended February 1, 2025 was derived from the audited consolidated financial statements as of that date.


The selling, general and administrative expense rate and operating income margin are calculated by dividing the applicable amount by total revenue.





Amounts in tables above may not recalculate due to rounding



T-2


DOLLAR TREE, INC.


Condensed Consolidated Balance Sheets


(In millions)






 






 






 




January 31, 2026

February 1, 2025




(Unaudited)




ASSETS






Current Assets:






Cash and cash equivalents


$






717.8







$






1,256.5







Merchandise inventories


 






2,495.4







 






2,672.0







Other current assets


 






233.0







 






169.8







Current assets of discontinued operations


 






-







 






5,008.9







Total current assets


 






3,446.2







 






9,107.2







Restricted cash


 






42.9







 






75.7







Property, plant and equipment, net


 






4,959.6







 






4,499.3







Operating lease right-of-use assets


 






4,435.1







 






4,146.4







Goodwill


 






423.2







 






421.2







Deferred income taxes, net


 






1.0







 






260.6







Other assets


 






158.2







 






133.6







Total assets


$






13,466.2







$






18,644.0







LIABILITIES AND SHAREHOLDERS' EQUITY






Current liabilities:






Current portion of long-term debt


$






-







$






1,000.0







Current portion of operating lease liabilities


 






1,000.2







 






960.7







Accounts payable


 






1,530.7







 






1,705.8







Income taxes payable


 






-







 






120.1







Other current liabilities


 






697.7







 






574.4







Current liabilities of discontinued operations


 






-







 






4,224.9







Total current liabilities


 






3,228.6







 






8,585.9







Long-term debt, net, excluding current portion


 






2,431.7







 






2,431.2







Operating lease liabilities, long-term


 






3,623.7







 






3,438.7







Deferred income taxes, net


 






153.3







 






-







Income taxes payable, long-term


 






29.7







 






28.2







Other liabilities


 






244.3







 






182.6







Total liabilities


 






9,711.3







 






14,666.6







Shareholders' equity


 






3,754.9







 






3,977.4







Total liabilities and shareholders' equity


$






13,466.2







$






18,644.0










The February 1, 2025 information was derived from the audited consolidated financial statements as of that date.



T-3


DOLLAR TREE, INC.


Condensed Consolidated Statements of Cash Flows


(In millions)






 




52 Weeks Ended




January 31, 2026

February 1, 2025




(Unaudited)




Cash flows from operating activities:






Net income (loss)


$






1,282.5






 







$






(3,030.1






)







Income (loss) from discontinued operations, net of tax


 






57.2






 







 






(4,072.6






)







Income from continuing operations


$






1,225.3






 







$






1,042.5






 







Adjustments to reconcile income from continuing operations to net cash provided by operating activities:






Depreciation and amortization


 






648.1






 







 






526.9






 







Provision for deferred income taxes


 






147.4






 







 






49.3






 







Stock-based compensation expense


 






58.9






 







 






106.9






 







Impairments


 






9.0






 







 






52.1






 







Gain on insurance proceeds related to fixed assets


 






(41.0






)







 






-






 







Other non-cash adjustments to income from continuing operations


 






92.9






 







 






20.0






 







Changes in operating assets and liabilities:






Merchandise inventories


 






130.6






 







 






(182.6






)







Income taxes receivable


 






(13.7






)







 






-






 







Other current assets


 






(65.7






)







 






(32.8






)







Other assets


 






(45.2






)







 






(78.1






)







Accounts payable


 






(178.1






)







 






541.4






 







Income taxes payable


 






128.9






 







 






110.6






 







Other current liabilities


 






101.8






 







 






14.4






 







Other liabilities


 






63.1






 







 






45.4






 







Operating lease right-of-use assets and liabilities, net


 






(71.6






)







 






(22.7






)







Net cash provided by operating activities of continuing operations


 






2,190.7






 







 






2,193.3






 







Cash flows from investing activities:






Capital expenditures


 






(1,134.0






)







 






(1,300.5






)







Proceeds from sale of discontinued operations


 






680.0






 







 






-






 







Cash divested from sale of discontinued operations


 






(246.0






)







 






-






 







Proceeds from insurance recoveries


 






50.0






 







 






50.0






 







Proceeds from (payments for) fixed asset disposition


 






1.3






 







 






1.1






 







Net cash used in investing activities of continuing operations


 






(648.7






)







 






(1,249.4






)







Cash flows from financing activities:






Principal payments for long-term debt


 






(1,000.0






)







 






-






 







Debt-issuance costs


 






(3.8






)







 






-






 







Proceeds from commercial paper notes


 






10,117.2






 







 






3,206.1






 







Repayments of commercial paper notes


 






(10,117.2






)







 






(3,206.1






)







Proceeds from stock issued pursuant to stock-based compensation plans


 






8.2






 







 






9.8






 







Cash paid for taxes on exercises/vesting of stock-based compensation


 






(13.3






)







 






(21.1






)







Payments for repurchase of stock


 






(1,548.0






)







 






(400.0






)







Net cash used in financing activities


 






(2,556.9






)







 






(411.3






)







Cash flows from discontinued operations:






Net cash provided by operating activities of discontinued operations


 






343.3






 







 






669.2






 







Net cash used in investing activities of discontinued operations


 






(79.8






)







 






(446.0






)







Net cash provided by discontinued operations


 






263.5






 







 






223.2






 







Effect of exchange rate changes on cash, cash equivalents and restricted cash


 






0.9






 







 






(1.8






)







Net change in cash, cash equivalents and restricted cash


 






(750.5






)







 






754.0






 







Cash, cash equivalents and restricted cash at beginning of period


 






1,511.2






 







 






757.2






 







Cash, cash equivalents and restricted cash at end of period


$






760.7






 







$






1,511.2






 










The information for the year ended February 1, 2025 was derived from the audited consolidated financial statements as of that date.



T-4


DOLLAR TREE, INC.


Segment Information


(In millions)

















 

















 



13 Weeks Ended

52 Weeks Ended



January 31, 2026

February 1, 2025

January 31, 2026

February 1, 2025



(Unaudited)

(Unaudited)

(Unaudited)




Net Sales:

















Dollar Tree

$






5,446.1






 









$






4,996.7






 









$






19,395.7






 









$






17,565.8






 









Corporate, support and other

 






-






 









 






-






 









 






-






 









 






-






 









Total net sales

$






5,446.1






 









$






4,996.7






 









$






19,395.7






 









$






17,565.8






 









Other revenue:

















Dollar Tree

$






-






 









$






-






 









$






-






 









$






0.1






 









Corporate, support and other

 






4.6






 









 






3.1






 









 






16.1






 









 






12.6






 









Total other revenue

$






4.6






 









$






3.1






 









$






16.1






 









$






12.7






 









Total Revenue:

















Dollar Tree

$






5,446.1






 









$






4,996.7






 









$






19,395.7






 









$






17,565.9






 









Corporate, support and other

 






4.6






 









 






3.1






 









 






16.1






 









 






12.6






 









Total revenue

$






5,450.7






 









$






4,999.8






 









$






19,411.8






 









$






17,578.5






 









Cost of sales:

















Dollar Tree

$






3,315.5






 







60.9






%







$






3,116.9






 







62.4






%







$






12,345.0






 







63.6






%







$






11,284.1






 







64.2






%







Corporate, support and other

 






-






 







-






 







 






-






 







-






 







 






-






 







-






 







 






-






 







-






 







Total cost of sales

$






3,315.5






 







60.9






%







$






3,116.9






 







62.4






%







$






12,345.0






 







63.6






%







$






11,284.1






 







64.2






%







Gross profit:

















Dollar Tree

$






2,130.6






 







39.1






%







$






1,879.8






 







37.6






%







$






7,050.7






 







36.4






%







$






6,281.7






 







35.8






%







Corporate, support and other

 






-






 







-






 







 






-






 







-






 







 






-






 







-






 







 






-






 







-






 







Total gross profit

$






2,130.6






 







39.1






%







$






1,879.8






 







37.6






%







$






7,050.7






 







36.4






%







$






6,281.7






 







35.8






%







Selling, general and administrative expenses:

















Dollar Tree

$






1,302.4






 







23.9






%







$






1,120.7






 







22.4






%







$






4,877.8






 







25.1






%







$






4,193.2






 







23.9






%







Corporate, support and other1

 






161.2






 







3.0






%







 






228.6






 







4.6






%







 






590.8






 







3.0






%







 






639.2






 







3.6






%







Total selling, general and administrative expenses

$






1,463.6






 







26.9






%







$






1,349.3






 







27.0






%







$






5,468.6






 







28.2






%







$






4,832.4






 







27.5






%







Transition services agreement income, net:

















Dollar Tree

$






-






 







0.0






%







$






-






 







0.0






%







$






-






 







0.0






%







$






-






 







0.0






%







Corporate, support and other1

 






23.1






 







0.4






%







 






-






 







0.0






%







 






54.9






 







0.3






%







 






-






 







0.0






%







Total transition services agreement income, net

$






23.1






 







0.4






%







$






-






 







0.0






%







$






54.9






 







0.3






%







$






-






 







0.0






%







Operating income (loss):

















Dollar Tree

$






828.2






 







15.2






%







$






759.1






 







15.2






%







$






2,172.9






 







11.2






%







$






2,088.6






 







11.9






%







Corporate, support and other1

 






(133.5






)







(2.4






%)







 






(225.5






)







(4.5






%)







 






(519.8






)







(2.7






%)







 






(626.6






)







(3.6






%)







Total operating income

$






694.7






 







12.7






%







$






533.6






 







10.7






%







$






1,653.1






 







8.5






%







$






1,462.0






 







8.3






%






















 


The information for the year ended February 1, 2025 was derived from the audited consolidated financial statements as of that date.


1Corporate, support and other SG&A expenses, transition services agreement income, net and operating income (loss) shown as a percentage of total revenue for continuing operations





Amounts in tables above may not recalculate due to rounding.



T-5


DOLLAR TREE, INC.


Dollar Tree Segment Information



(Unaudited)




 













13 Weeks Ended

52 Weeks Ended





January 31, 2026

February 1, 2025

January 31, 2026

February 1, 2025


Store Count:










Beginning


9,269






 







8,868






 







 






8,881






 







 






8,415






 







New stores


42






 







33






 







 






402






 







 






525






 







Stores converted from Family Dollar (a)


-






 







4






 







 






71






 







 






12






 







Closings


(29






)







(24






)







 






(72






)







 






(71






)







Ending


9,282






 







8,881






 







 






9,282






 







 






8,881






 







Selling Square Footage (in millions)


82.6






 







78.4






 







 






82.6






 







 






78.4






 







Growth Rate (Square Footage)


5.4






%







7.3






%







 






5.4






%







 






7.3






%
















 









52 Weeks Ended









January 31, 2026

February 1, 2025


Sales per Square Foot (b)






$






241






 







$






232






 
















 


(a)
Stores converted from a Family Dollar store to a Dollar Tree store are reflected in the table above when they re-opened as a Dollar Tree store.


(b)
Sales per square foot is calculated based on total net sales for the reporting period divided by the average selling square footage during the period.



T-6




DOLLAR TREE, INC.




Reconciliation of Non-GAAP Financial Measures




(In millions, except per share data)




(Unaudited)







 


From time-to-time, the Company discloses certain financial measures not derived in accordance with GAAP. These non-GAAP financial measures should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purposes of analyzing operating performance, financial position, liquidity, or cash flows. The non-GAAP financial measures we have disclosed include adjusted selling, general and administrative expenses inclusive and exclusive of transition services agreement income, net; adjusted selling, general and administrative expense rate inclusive and exclusive of transition services agreement income, net; adjusted operating income (loss); adjusted operating income (loss) margin; adjusted income from continuing operations; adjusted diluted earnings per share; and adjusted effective tax rate, in each case with respect to our continuing operations. The Company believes providing additional information in these non-GAAP measures that exclude the unusual expenses described below is beneficial to the users of its financial statements in evaluating the Company's current operating results in relation to past periods. In addition, the Company's debt covenants exclude the impact of certain unusual expenses. The Company has included a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures in the following tables.







 


1.)
During the fourth quarter of fiscal 2023, we announced that we had initiated a comprehensive store portfolio optimization review which involved identifying stores for closure, relocation or re-bannering based on an evaluation of current market conditions and individual store performance, among other factors. In connection with this portfolio optimization review, we incurred $2.3 million of consulting, severance, and other related costs in fiscal 2024.







 


2.)
During the first quarter of fiscal 2025, the Company entered into a definitive agreement to sell the Family Dollar business after completing a strategic review of alternatives for the banner in fiscal 2024. The sale was completed on July 5, 2025. We incurred consulting, legal and other expenses totaling $4.8 million and $15.5 million in the fourth quarter of fiscal 2025 and fiscal 2025 year-to-date, respectively, related to the sale and ongoing separation activities, including costs associated with optimizing the remaining Dollar Tree business post-divestiture. Costs associated with these activities incurred in the fourth quarter of fiscal 2024 and fiscal 2024 year-to-date totaled $9.1 million and $10.3 million, respectively.







 


3.)
During the first quarter of fiscal 2024, a tornado destroyed our Dollar Tree distribution center in Marietta, Oklahoma ("DC 8"). As a result of the destruction, we have incurred losses totaling $129.0 million, consisting of $70.0 million related to damaged inventory and $59.0 million related to property and equipment. These losses are fully insured and therefore not contemplated in the non-GAAP adjustments below. Since the end of the first quarter of fiscal 2024, we have received insurance proceeds totaling $120.0 million related to damaged inventory, and $100 million related to damage property, including $70.0 million in the first quarter of fiscal 2025. In the fourth quarter of fiscal 2024, we recorded a gain of $29.7 million for excess insurance proceeds received over the losses incurred. We recorded an additional gain in the first quarter of fiscal 2025 totaling $61.8 million for excess insurance proceeds received over the losses incurred. In the second quarter of fiscal 2024, we accrued $2.2 million of severance-related costs for employees at DC 8, and reduced our final severance accrual in the fourth quarter of fiscal 2024 by $0.2 million.







 


4.)
In connection with the decision to sell the Family Dollar business in the fourth quarter of fiscal 2024, the Company recorded software impairments and related contract termination costs of approximately $58.0 million related to dual-banner merchandising and store system projects that were not fully implemented and were cancelled. In the fourth quarter of fiscal 2025, we recorded changes to the estimated software termination costs, as those were no longer considered required.







 


5.)
In the fourth quarter of fiscal 2024, Richard W. Dreiling, Executive Chairman and Chief Executive Officer resigned from the Company. As a result, $27.1 million of expense was recognized in the fourth quarter of fiscal 2024 related to the accelerated vesting of an additional number of options pursuant to the terms of his Executive Agreement with the Company effective March 19, 2022, as amended January 25, 2023.







 


T-6a




DOLLAR TREE, INC.




Reconciliation of Non-GAAP Financial Measures




(In millions, except per share data)




(Unaudited)







 


In addition, the Company discloses free cash flow, a non-GAAP financial measure that we calculate as net cash provided by operating activities less capital expenditures. The Company believes free cash flow is an important indicator of our liquidity as it measures the amount of cash we generate from our business operations. Free cash flow may not represent the amount of cash flow available for general discretionary use, because it excludes non-discretionary expenditures, such as mandatory debt repayments and required settlements of recorded and/or contingent liabilities not reflected in cash flow from operations. The Company has included a reconciliation of free cash flow to the most comparable GAAP measures in the following tables.






 


A reconciliation of the projected adjusted diluted EPS, which is a forward-looking non-GAAP financial measure, to the most directly comparable GAAP financial measure, is not provided because the company is unable to provide such reconciliation without unreasonable effort. The inability to provide a reconciliation is due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. GAAP measures may include the impact of such items as litigation reserves; restructuring charges; goodwill and intangible asset impairments; natural disasters; our store portfolio optimization review and strategic review and pending sale of Family Dollar, and the tax effect of all such items. Historically, the company has excluded these items from non-GAAP financial measures. The company currently expects to continue to exclude these items in future disclosures of non-GAAP financial measures and may also exclude other items that may arise (collectively, “non-GAAP adjustments”). The decisions and events that typically lead to the recognition of non-GAAP adjustments, such as a decision to exit part of the business or reaching settlement of a legal dispute, are inherently unpredictable as to if or when they may occur. For the same reasons, the company is unable to address the probable significance of the unavailable information, which could be material to future results.





T-7


DOLLAR TREE, INC.


Reconciliation of Non-GAAP Financial Measures - Continuing Operations


(In millions, except per share data)


(Unaudited)










 




13 Weeks Ended

52 Weeks Ended




January 31, 2026

February 1, 2025

January 31, 2026

February 1, 2025


Reconciliation of Adjusted Selling, General and Administrative Expenses - Dollar Tree Segment










Selling, general and administrative expenses - GAAP


$






1,302.4






 







$






1,120.7






 







$






4,877.8






 







$






4,193.2






 







Deduct: Strategic review costs


 






(0.4






)







 






(8.8






)







 






(4.8






)







 






(10.0






)







Add/Deduct: Severance


 






-






 







 






0.2






 







 






-






 







 






(2.0






)







Adjusted selling, general and administrative expenses (Non-GAAP)


$






1,302.0






 







$






1,112.1






 







$






4,873.0






 







$






4,181.2






 







Adjusted selling, general and administrative expense rate (Non-GAAP)


 






23.9






%







 






22.3






%







 






25.1






%







 






23.8






%















 


Reconciliation of Adjusted Operating Income - Dollar Tree Segment










Operating income (GAAP)


$






828.2






 







$






759.1






 







$






2,172.9






 







$






2,088.6






 







Add: Strategic review costs


 






0.4






 







 






8.8






 







 






4.8






 







 






10.0






 







Add/Deduct: Severance


 






-






 







 






(0.2






)







 






-






 







 






2.0






 







Adjusted operating income (Non-GAAP)


$






828.6






 







$






767.7






 







$






2,177.7






 







$






2,100.6






 







Adjusted operating income margin
(Non-GAAP)


 






15.2






%







 






15.4






%







 






11.2






%







 






12.0






%















 


Reconciliation of Adjusted Selling, General and Administrative Expenses, Exclusive of Transition Services Agreement Income, Net - Corporate, Support and Other










Selling, general and administrative expenses (GAAP)


$






161.2






 







$






228.6






 







$






590.8






 







$






639.2






 







Add/Deduct: Store closure costs


 






-






 







 






0.1






 







 






-






 







 






(2.3






)







Deduct: Strategic review costs


 






(4.4






)







 






(0.3






)







 






(10.7






)







 






(0.3






)







Add/Deduct: Software impairments and termination costs

 






4.5






 







 






(58.3






)







 






4.5






 







 






(58.3






)







Deduct: Stock option acceleration cost


 






-






 







 






(27.1






)







 






-






 







 






(27.1






)







Adjusted selling, general and administrative expenses, exclusive of transition services agreement income, net (Non-GAAP)


$






161.3






 







$






143.0






 







$






584.6






 







$






551.2






 







Adjusted selling, general and administrative expense rate, exclusive of transition services agreement income, net (Non-GAAP)2


 






3.0






%







 






2.9






%







 






3.0






%







 






3.1






%















 


Reconciliation of Adjusted Selling, General and Administrative Expenses, Inclusive of Transition Services Agreement Income, Net - Corporate, Support and Other










Selling, general and administrative expenses (GAAP)


$






161.2






 







$






228.6






 







$






590.8






 







$






639.2






 







Add/Deduct: Store closure costs


 






-






 







 






0.1






 







 






-






 







 






(2.3






)







Deduct: Strategic review costs


 






(4.4






)







 






(0.3






)







 






(10.7






)







 






(0.3






)







Add/Deduct: Software impairments and termination costs

 






4.5






 







 






(58.3






)







 






4.5






 







 






(58.3






)







Deduct: Stock option acceleration cost


 






-






 







 






(27.1






)







 






-






 







 






(27.1






)







Deduct: Transition services agreement income, net


 






(23.1






)







 






-






 







 






(54.9






)







 






-






 







Adjusted selling, general and administrative expenses, inclusive of transition services agreement income, net (Non-GAAP)


$






138.2






 







$






143.0






 







$






529.7






 







$






551.2






 







Adjusted selling, general and administrative expense rate, inclusive of transition services agreement income, net (Non-GAAP)2


 






2.5






%







 






2.9






%







 






2.7






%







 






3.1






%















 


2Corporate, support and other SG&A expenses and operating loss shown as a percentage of total revenue for continuing operations





Amounts in tables above may not recalculate due to rounding.



T-7a


DOLLAR TREE, INC.


Reconciliation of Non-GAAP Financial Measures - Continuing Operations


(In millions, except per share data)


(Unaudited)










 




13 Weeks Ended

52 Weeks Ended




January 31, 2026

February 1, 2025

January 31, 2026

February 1, 2025


Reconciliation of Adjusted Operating Loss - Corporate, Support and Other










Operating loss (GAAP)


$






(133.5






)







$






(225.5






)







$






(519.8






)







$






(626.6






)







Add/Deduct: Store closure costs


 






-






 







 






(0.1






)







 






-






 







 






2.3






 







Add: Strategic review costs


 






4.4






 







 






0.3






 







 






10.7






 







 






0.3






 







Add/Deduct: Software impairments and termination costs

 






(4.5






)







 






58.3






 







 






(4.5






)







 






58.3






 







Add: Stock option acceleration cost


 






-






 







 






27.1






 







 






-






 







 






27.1






 







Adjusted operating loss (Non-GAAP)


$






(133.6






)







$






(139.9






)







$






(513.6






)







$






(538.6






)







Adjusted operating loss margin (Non-GAAP)2


 






(2.5






%)







 






(2.8






%)







 






(2.6






%)







 






(3.1






%)















 


Reconciliation of Adjusted Selling, General and Administrative Expenses - Continuing Operations










Selling, general and administrative expenses (GAAP)


$






1,463.6






 







$






1,349.3






 







$






5,468.6






 







$






4,832.4






 







Add/Deduct: Store closure costs


 






-






 







 






0.1






 







 






-






 







 






(2.3






)







Deduct: Strategic review costs


 






(4.8






)







 






(9.1






)







 






(15.5






)







 






(10.3






)







Add/Deduct: Severance


 






-






 







 






0.2






 







 






-






 







 






(2.0






)







Add/Deduct: Software impairments and termination costs


 






4.5






 







 






(58.3






)







 






4.5






 







 






(58.3






)







Deduct: Stock option acceleration cost


 






-






 







 






(27.1






)







 






-






 







 






(27.1






)







Adjusted selling, general and administrative expenses (Non-GAAP)


$






1,463.3






 







$






1,255.1






 







$






5,457.6






 







$






4,732.4






 







Adjusted selling, general and administrative expense rate (Non-GAAP)


 






26.8






%







 






25.1






%







 






28.1






%







 






26.9






%















 


Reconciliation of Adjusted Operating Income - Continuing Operations










Operating income (GAAP)


$






694.7






 







$






533.6






 







$






1,653.1






 







$






1,462.0






 







Add/Deduct: Store closure costs


 






-






 







 






(0.1






)







 






-






 







 






2.3






 







Add: Strategic review costs


 






4.8






 







 






9.1






 







 






15.5






 







 






10.3






 







Add/Deduct: Severance


 






-






 







 






(0.2






)







 






-






 







 






2.0






 







Add/Deduct: Software impairments and termination costs


 






(4.5






)







 






58.3






 







 






(4.5






)







 






58.3






 







Add: Stock option acceleration cost


 






-






 







 






27.1






 







 






-






 







 






27.1






 







Adjusted operating income (Non-GAAP)


$






695.0






 







$






627.8






 







$






1,664.1






 







$






1,562.0






 







Adjusted operating income margin (Non-GAAP)


 






12.8






%







 






12.6






%







 






8.6






%







 






8.9






%















 


Reconciliation of Adjusted Income from Continuing Operations










Income from Continuing Operations (GAAP)


$






511.7






 







$






400.2






 







$






1,225.3






 







$






1,042.5






 







SG&A adjustments:










Add/Deduct: Store closure costs


 






-






 







 






(0.1






)







 






-






 







 






2.3






 







Add: Strategic review costs


 






4.8






 







 






9.1






 







 






15.5






 







 






10.3






 







Add/Deduct: Severance


 






-






 







 






(0.2






)







 






-






 







 






2.0






 







Add/Deduct: Software impairments and termination costs


 






(4.5






)







 






58.3






 







 






(4.5






)







 






58.3






 







Add: Stock option acceleration cost


 






-






 







 






27.1






 







 






-






 







 






27.1






 







Non-operating adjustment:










Deduct: Non-operating insurance gain


 






-






 







 






(29.7






)







 






(61.8






)







 






(29.7






)







Provision for income tax adjustments


 






0.1






 







 






(9.9






)







 






12.6






 







 






(11.2






)







Adjusted income from continuing operations
(Non-GAAP)


$






512.1






 







$






454.8






 







$






1,187.1






 







$






1,101.6






 







Adjusted income from continuing operations as percentage of total revenue (Non-GAAP)


 






9.4






%







 






9.1






%







 






6.1






%







 






6.3






%















 


2Corporate, support and other SG&A expenses and operating loss shown as a percentage of total revenue for continuing operations





Amounts in tables above may not recalculate due to rounding.



T-7b


DOLLAR TREE, INC.


Reconciliation of Non-GAAP Financial Measures - Continuing Operations


(In millions, except per share data)


(Unaudited)










 




13 Weeks Ended

52 Weeks Ended




January 31, 2026

February 1, 2025

January 31, 2026

February 1, 2025


Reconciliation of Adjusted Diluted Earnings Per Share - Continuing Operations










Diluted earnings per share - continuing operations (GAAP)


$






2.56






 







$






1.86






 







$






5.94






 







$






4.83






 







SG&A adjustments:










Add/Deduct: Store closure costs


 






-






 







 






(0.00






)







 






-






 







 






0.01






 







Add: Strategic review costs


 






0.02






 







 






0.04






 







 






0.08






 







 






0.05






 







Add/Deduct: Severance


 






-






 







 






(0.00






)







 






-






 







 






0.01






 







Add/Deduct: Software impairments and termination costs


 






(0.02






)







 






0.27






 







 






(0.02






)







 






0.27






 







Add: Stock option acceleration cost


 






-






 







 






0.13






 







 






-






 







 






0.13






 







Non-operating adjustment:




 






-






 







 






-






 







 






-






 







Deduct: Non-operating insurance gain


 






-






 







 






(0.14






)







 






(0.30






)







 






(0.14






)







Provision for income tax adjustments


 






0.00






 







 






(0.05






)







 






0.06






 







 






(0.05






)







Adjusted diluted earnings per share - continuing operations (Non-GAAP)


$






2.56






 







$






2.11






 







$






5.75






 







$






5.10






 















 


Reconciliation of Adjusted Effective Tax Rate - Continuing Operations










Effective tax rate (GAAP)


 






24.4






%







 






25.9






%







 






24.8






%







 






24.7






%







Add/deduct: tax impact of non-GAAP adjustments3


 






-0.1






%







 






-1.1






%







 






0.0






%







 






-0.5






%







Consolidated adjusted effective tax rate (non-GAAP)


 






24.3






%







 






24.8






%







 






24.8






%







 






24.2






%















 


3Relates to the tax effect of non-GAAP adjustments, which were determined based on the nature of the underlying non-GAAP adjustments and their relevant tax rates.





Amounts in tables above may not recalculate due to rounding.



T-8


DOLLAR TREE, INC.


Reconciliation of Non-GAAP Financial Measures


(In millions, except per share data)


(Unaudited)


Reconciliation of Net Cash Provided by (Used in) Operating Activities of Continuing Operations to Free Cash Flow from Continuing Operations

13 Weeks Ended

52 Weeks Ended





January 31, 2026

February 1, 2025

January 31, 2026

February 1, 2025


Net cash provided by operating activities of continuing operations (GAAP)


$






1,232.2






 







$






857.6






 







$






2,190.7






 







$






2,193.3






 







Deduct:










Capital expenditures of continuing operations


 






(263.7






)







 






(294.8






)







 






(1,134.0






)







 






(1,300.5






)







Free cash flow from continuing operations (Non-GAAP)


$






968.5






 







$






562.8






 







$






1,056.7






 







$






892.8






 
















 


Net cash used in investing activities of continuing operations (GAAP) (d)


$






(255.7






)







$






(287.9






)







$






(648.7






)







$






(1,249.4






)







Net cash provided by (used in) financing activities (GAAP)


$






(853.4






)







$






1.6






 







$






(2,556.9






)







$






(411.3






)
















 


(d)
Net cash provided by (used in) investing activities includes capital expenditures, which is included in our computation of free cash flow.











 


 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260316378072/en/
Dollar Tree, Inc.

Daniel Delrosario

Senior Vice President, Investor Relations and Treasurer

www.DollarTree.com


Original: Dollar Tree, Inc. Reports Fourth Quarter and Full Year 2025 Results